Rambus (NASDAQ:RMBS) Trading Down 3.5%

Rambus Inc. (NASDAQ:RMBS) shares traded down 3.5% on Thursday . The company traded as low as $39.56 and last traded at $39.84. 74,968 shares were traded during trading, a decline of 95% from the average session volume of 1,533,138 shares. The stock had previously closed at $41.27.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Susquehanna lowered their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Stock Performance

The firm’s 50 day moving average is $49.39 and its two-hundred day moving average is $55.32. The stock has a market capitalization of $4.40 billion, a PE ratio of 12.50 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.12). Rambus had a net margin of 48.31% and a return on equity of 16.74%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $139.00 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts anticipate that Rambus Inc. will post 1.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Rambus by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock valued at $720,155,000 after acquiring an additional 275,160 shares in the last quarter. Wellington Management Group LLP lifted its position in Rambus by 120.4% in the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after purchasing an additional 2,149,396 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Rambus by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company’s stock valued at $142,645,000 after purchasing an additional 132,939 shares during the last quarter. Hood River Capital Management LLC lifted its position in Rambus by 5.7% in the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock valued at $127,248,000 after purchasing an additional 116,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Rambus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock valued at $105,673,000 after purchasing an additional 158,259 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.